Asia's Largest Business Model Competition

Win Prizes Worth INR 50 Lacs!
(Registration Closed)


Instated to foster the spirit of entrepreneurship and business acumen among people all around the world, Eureka! fast-tracks the journey from an innovative idea to a commercial success. Eureka! is Asia's largest business model competition accredited independently by CNN and Thomson Reuters. Eureka! prides itself on providing a 360 degree, holistic experience in the 5 months period that it spans. Right from acknow- ledging that your idea has a potential, to drafting a B-Model and pitching in front of an esteemed panel of investors, this platform has it all!

Innovation and entrepreneurship are the wheels that steer the world into a brighter future. Great ideas result in great undertakings which pave the way for glaring success. To facilitate this vision, Eureka! provides a platform for potential ideas and early-stage startups to evaluate their plan in the risk-free environment of a competition. It aims to bridge the gap between ideas and the realization of an enterprise.

There are 3 tracks in Eureka!

Business Track:

The trademark of Eureka!, the business track of Eureka! is aimed at helping ideas develop into businesses that have the potential to revolutionize the world.

Social Track:

Eureka! Social encourages ideas which cater to people at the bottom of the pyramid and or for a greener tomorrow. Does your innovative idea try to solve a problem of the society? as well as make money? Then do register for the Social track.

IIT Bombay Track:

For ideas of IIT Bombay who have the potential to be the next unicorn. The finalists of IITB track are given wildcard entry into the finalis of Business and Social track according to their idea.

 

Eureka! Business Track

1) Start-ups which have been incorporated for more than two years (i.e. registered on or before 24th August 2017) are not eligible to participate in the Business track of Eureka! 2019.
2) There is no restriction on any individual to participate. Anyone, from students to working professionals across the world, can participate.
3) Ventures that have acquired funding from external investor-networks (angels, VC's, etc) cannot participate. We believe in promoting startups that require assistance in the form of seed capital, mentoring and various types of consultancies.
4)Past year winners are not allowed to take part again this year.
Note: Teams may be asked to provide proof of the above at any time during the competition cycle and in the eventuality of wrong details/information your entry shall be disqualified.

 

Eureka! Social Track

1) Start-ups which have been incorporated for more than two years (i.e. registered on or before 24th August 2017) are not eligible to participate in the Social track of Eureka! 2019.
2) There is no restriction on any individual to participate. Anyone, from students to working professionals across the world, can participate.
3) Ventures that have acquired funding from external investor-networks (angels, VC's, etc.) cannot participate. We believe in promoting startups that require assistance in the form of seed capital, mentoring and various types of consultancies.
4) The plan should solve a critical social and/or environmental problem in an innovative and transformational way.
5) The mission and practices of the venture must focus on quantifiable social return.
6) The venture must be for-profit and financially viable; non-profit entries will not be accepted.
7)Past year winners are not allowed to take part again this year.

Teams can be asked to provide proof of the above at any time during the competition cycle and in the eventuality of any wrong detail/information, your entry can be disqualified.

Eureka! IIT Bombay Track

1) Each team must comprise a majority (50% or more) of IIT -B residents (students, faculty and anybody residing in the campus).
2)IIT-B residents must be actively involved in the venture.
3) Prize money will be given as cheque made in the name of team leader, who should be an IIT Bombay student/resident.
4) Ventures of IIT Bombay residents should satisfy the norms mentioned in the above policy.
Note: To know more about the institute policy of IIT-B on intellectual property, visit: https://www.ircc.iitb.ac.in/IRCC-Webpage/rnd/IITB_IP_Policy2012.jsp
5) All the finalist of IIT Bombay Track will get wild card entry in the Business and Social Track depending on their idea.
6)Past year winners are not allowed to take part again this year.
7) Start-ups which have been incorporated for more than two years (i.e. registered on or before 24th August 2017) are not eligible to participate in the IIT Bombay track of Eureka! 2019.
8) There is no restriction on any individual to participate. Anyone, from students to working professionals across the world, can participate.
9) Ventures that have acquired funding from external investor-networks (angels, VC's, etc) cannot participate. We believe in promoting startups that require assistance in the form of seed capital, mentoring and various types of consultancies.

Teams can be asked to provide proof of the above at any time during the competition cycle and in the eventuality of any wrong detail/information, your entry can be disqualified.

Choose Track

1) There is a common registration portal for all tracks.
2)Teams must select their track while submitting their ideas in Eureka!.
3)Teams must select their track after viewing the Eligibility Criteria for all the tracks.
4) Once a team selects its track, it cannot be changed.

Questionnaire Rules

1) Teams must answer each question in the questionnaire in order to be considered for evaluation.
2) The questionnaire of Eureka! is designed such that compiling the answers to the questions would create a basic but complete image of the idea. A participant is expected to answer all questions in the questionnaire in detail.
3) The answers to the questionnaire can be saved and edited repeatedly till the last day of submission i.e. 24th September 2019. The last saved answers would be frozen at 11:59 pm IST on 24th September 2019.
4) Entries submitted after the deadline will not be considered. The name given to the idea/entry cannot be changed for the second round. However, any change in name for the third and final round can be done by bringing it to our notice, stating the reference code for the entry.
5) All teams will receive a basic assignment two weeks before the registration deadline on their registered email ID.
6) All teams are expected to complete the basic assignment before 3rd October 2019.

Business Model Rules

1) Only teams that qualify for the business model round are eligible for making further submissions.
2) Participants will be allotted sector-specific mentors according to their requirements and mentoring will take place via email, video conferencing and telephone calls.
3) Participants are required to make a preliminary submission comprising of their executive summary before the offline mentors’ meet.
4) Post mentors’ meet, participants are required to submit their Business Model and MVP/POC. For your convenience, guidelines are provided which can be referred.
4) Participants are requested to submit a traction report along with the executive summary.
5) All submissions are to be made only in pdf file format. Please name your file: TeamName_Eureka!Preliminary_{RegCode}.pdf for Preliminary submission
TeamName_Eureka!BModel_{RegCode}.pdf for Business Model submission
TeamName_Eureka!MVPPOC_{RegCode}.pdf for MVP/POC submission
6) Further information about the pitching round will be conveyed to the finalist directly.


Frequently Asked Questions

I want to participate in Eureka! 2019. What are the steps I should follow ?
Step 1: Register for Eureka! 2019 on the portal.
Step 2:. You will have to provide the necessary details to complete your registration. Every member of the team has to individually register on the portal. However, the idea has to be registered only once. The leader after registering his idea can add other team members to it using their registered email ID.
Step 3: After confirming, you can proceed to the submissions page.
What is the registration/ participation fee for Eureka!?
There is NO registration/ participation fee.
What is the last date of submission?
The last date for submitting/ editing your Questionnaire is 24th September, 2019.
Can I sign up for both Eureka! Business and Eureka! social?
Yes, you can participate in both Eureka! Business and Eureka! Social with different ideas. Ideas for both competitions must cater to the respective categories. You cannot enter both categories with the same B-Model.
How do I decide the category for my B-Model?
Refer to the rules and eligibility criteria of Eureka! 2019.
Can I submit additional documents along with the summary?
No, we do not accept any other documents. The judging will be done only on the basis of the questionnaire.
Do I compulsorily need to have a team?
We allow single participation, though a team is highly recommended.
How will the business model be judged?
Business models will be evaluated based on the quality of the plan, the feasibility of the business idea and the size of the market opportunity amongst other judging parameters. Judging will be done by our panel of experts on the basis of a set of criteria covering different aspects of a business model.
When can I request a mentor?
A mentor will be allotted to all the teams that qualify for the second round i.e. the Business Model round. The mentoring session will begin in November and end in December.
I registered more than once for the same entry. What should I do?
Multiple registrations can be made by logging into your ID and simply creating another idea. Please note that for different ideas you have to submit different set of answers for the questionnaire and create a different set of team.
How is confidentiality of the questionnaire/ B-Model maintained?
The entries for Eureka! 2019 are judged by reputed faculty, established entrepreneurs and industrialists who believe in promoting entrepreneurship. They are themselves very busy people and looking at B-Models is a routine affair for them. Your entry is viewed only by the judges. At no stage is an organizer permitted to view your B-Model. Presentations are all closed room presentations. Only the team members and judges will be present during the presentation. However, we cannot get our judges to sign a non-disclosure agreement (NDA). To view our policy about confidentiality, refer to Terms and Conditions.
Where can I get a sample copy of business model?
You can get a sample copy of a business model under the resources section.
Can I change my team later?
Yes, you can change your team information and other registration details by logging into the edit profile page. You can even add a team member or drop one. You can also send requests to your friends regarding the same. However you cannot change the details of the team leader later. This facility will be available till 24th September, 2019.
What should be the size of my team?
Teams can be of any size, but a typical team consists of 3 to 7 members. However, having more than 7 members is not allowed. You may include faculty, industrialists, professionals, etc in your team. Each team is advised to figure out what expertise it needs to develop a successful business model and build a team to meet those needs.
Can a team consist of people from different colleges/ companies?
Yes, teams can consist of individuals from different colleges/ companies.
Does my business model have to be technology related?
No, we encourage all entries that can potentially be developed into a business model.
How does the mentoring program work?
Mentors are experienced sector-specific entrepreneurs or experts who provide assistance and guidance to the participants. Mentors will offer suggestions and feedback to help participants develop and refine their business model. Teams are strongly encouraged to take advantage of this opportunity. Teams can select a mentor from the sector of their choice or request the competition committee to assign a mentor to help them.
Can I take part in Eureka! if I have already taken part last year?
You can take part in the competition again provided you are not one of the winners of the competition. You can register with a different idea once again.
What is Round 1(Questionnaire) judging criteria?
Once the questionnaire has been filled and submitted by the participating teams, it will be sent to our sector-specific panels of experts for judging. Each entry will be judged by multiple judges and the final scores will be normalised by proven and genuine statistical methods. Questionnaires will be judged on the basis of a set of criteria and each criterion would be marked on a scale of 1-10 with 10 being the highest and 1 being the lowest.



Prize Distribution

1) One team cannot win more than one prize package out of the top 5 prize packages have cash awards.
2) Prize allocation will be done on the basis of merit lists of each prize package.
3) The total cash prize distribution for the prize winners will be done in 2 stages. Proper auditing at intermediate stages will be done to ensure that the prize money is appropriately used to take the venture forward.
4) All prize money will be given as cheques. No cash under whatsoever condition will be given.
5)All winning teams are required to make sure that there startup is registered in order to receive the prize money.
6) 50% of the cash prize will be issued 3 months after the declaration of results.
7) Within a period of 6 months after the date of declaration of results, the teams will be required to submit a detailed report of their progress to the Entrepreneurship Cell, IIT Bombay. The report would be evaluated by our panel of judges.
8) The startup is also supposed to submit legitimate bills of expenses made using the 50% of cash prize.
9) If the judges declare that adequate progress has been made and the startup submit the bills for their expenses in the given time, the remaining 50% of the prize will be released in December.
10) If a team fails to give the report within the stipulated time, it shall be deemed that the team has forfeited the remaining prize.

General

By registering for this competition, it shall be deemed that each individual of the participating team has agreed to be bound by the following terms and conditions:

Confidentiality
By electing to participate in Eureka!, each participating team and all of its team members agree to allow The Entrepreneurship Cell, IIT Bombay to use their names, images and information regarding the team's business, and prize information in publicity and marketing efforts throughout the world, unless specifically prohibited by law. Each participating team must agree to accept that their registration form and other entries will not be returned to them, and accept that their personal data will be available for information and statistical purposes.

Intellectual Property
The participating team represents that intellectual property in the business model does not infringe upon the intellectual property or any other legal or moral right of any person or entity.

Legal Issues
The participating team represents that they shall not violate any applicable law. The Terms & Conditions and the Competition Rules shall be governed by the laws of India. Any dispute or conflict arising out of, from or relating to anything contained in the Terms & Conditions and/ or the Competition Rules is subject to the jurisdiction of Mumbai courts only.

 

Others

The Entrepreneurship Cell, IIT Bombay reserves the right to disqualify or prohibit from participating in Eureka! any team that makes a submission, that in the sole discretion of The Entrepreneurship Cell, IIT Bombay, does not confirm with the Eligibility Criteria or does not comply with the Terms & Conditions and/ or the Competition Rules and/ or violates the spirit of Eureka! as a competition. In addition, the Entrepreneurship Cell, IIT Bombay may notify the appropriate legal/ administrative authorities as it deems fit and/or initiate any other action as may be advised. By entering the Competition, each team and its individual members agree to accept the decisions of The Entrepreneurship Cell, IIT Bombay as final including determination of the winners of Eureka!.
The Entrepreneurship Cell, IIT Bombay shall have the discretion to initiate appropriate action against participating teams including individuals of such participating teams in case of any losses or damages arising from violation of the Eligibility Criteria, Competition Rules and the Terms & Conditions.
If Entrepreneurship Cell, IIT Bombay or its sponsors or associates are faced with any claim or loss (including any third party claims) arising from or relating to any breach by any member of a participating team of the Terms and Conditions hereof, such participating team shall severally and jointly indemnify and keep harmless Entrepreneurship Cell, IIT Bombay or its sponsors or associates.

 

Success Stories

Presently in its 20th edition, Eureka! has acted as a launchpad for more than 40 successful start-ups, some of which have gone on to become multi-million dollar enterprises.
1) Leaf (Eureka! Social winners, 2014)
website: https://www.leafwearables.com/ Leaf is a wearable technology company founded in Feb 2016.Their SAFER Smart Pendant is a beautiful piece of jewellery with technology inside keeps women safe and connected. After winning Eureka! Social Track, they listed in Top 50 startups at Global Entrepreneurship Week and in Top 50 Innovative companies in India through IIGP. They also won The Ten Minutes Million at The Entrepreneurship Summit 2016 at IIT Bombay.They were chosen amongst the top 10 innovative startups in India by Department of Science and Technology who accompanied Prime Minister Narendra Modi on his visit to Silicon Valley to participate in first India-U.S. Startup Konnect (September 2016).
2) Zostel (Eureka! business winners, 2013)
website: http://zostel.com/ Zostel which is India's first backpacking youth hostel chain, started in August 2013 with an initial capital of Rs 20 lakh as a chain of backpacker hostels for young travellers providing airconditioned dormitories with laundry service, TV, internet and other facilities for under Rs 500 a night.In April 2016, it entered the budget hotel market and launched ZO rooms which raised an estimated $47 million across two round from Orios Venture Partners and Tiger Global. OYO acquired ZO rooms and zostel in 2016.
3) Greenway Grameen Infra (Eureka! Socials winner 2011)
website: http://grameeninfra.blogspot.in/p/home.html Greenway Grameen Infra develops innovative solutions for rural consumers based on a unique heat transfer technology.Greenway's flagship product is Smart Stove. It burns traditional biomass fuels like wood and cow dung, but reduces them by 65 per cent to produce the same heat as mud stoves, with 70 per cent less smoke and 1.5 tons less Greenhouse Gas (GHG) emissions every year. Within the first six months of the product launch, Greenway Grameen was averaging 5,000 unit sales per month, and today, after five years, Greenway Grameen has managed to sell over three lakh units in India.It's product is India's largest selling cook stove and has also entered into international markets such as Nepal, Bangladesh and Mexico.

4) TheraNova 

website: http://www.theranova.com/ Winners of Eureka! 2002, TheraNova is a biomedical device company. In addition to receiving seed funding for several internal projects, it has spun out several venture-backed companies. Baranova, NovaShunt, Velomedix and EM Kinetics have managed to raise Series B funding of $7.5 million, $25 million, $10.2 million and $2.8 million, respectively. A few other products have been filed for patents. For more information about funding visit the links below.
5) Elnfinitus
website: http://www.einfinitus.com/overview.html Winners of Eureka! 2001, eInfinitus Technologies is a research oriented routing technology venture, founded by the alumnus of the Department of Computer Science and Engineering of IIT Bombay, India. It received INR 15 million in their first round of funding from Sicom Ventures and was later bought by Cisco Systems in a deal reported to be in the range of a whopping INR 2,50,00,00,000 or $50 million. For more information go to http://www.einfinitus.com/News/news8.html
6) Whizlabs
website: http://www.whizlabs.com/ Winners of Eureka! 2003, today Whizlabs is a global leader in Java Certification Exam preparation. It has served over 50,000 customers and 20,00,000 users in over 120 countries with a 99.7% success rate and has also served corporate customers like Accenture, JP Morgan, IBM, Cisco, Infosys, Bunge, Induslogic, Nucleus software, Coface.
7) Greensole
website: : http://www.greensole.in/ Greensole is a social venture, refurbishing discarded shoes to comfortable footwear, which are provided to the people in need and also sold in the market. Globally more than 350 million pairs of shoes end up in landfills each year while as per the UNESCO & WHO report 1.5 Billion people currently do not have footwear.Greensole tends to bridge this gap making social, economic and environmental impact

There are 3 tracks in Eureka!

Business Track:

The trademark of Eureka!, the business track of Eureka! is aimed at helping ideas develop into businesses that have the potential to revolutionize the world.

Social Track:

Eureka! Social encourages ideas which cater to people at the bottom of the pyramid and or for a greener tomorrow. Does your innovative idea try to solve a problem of the society? as well as make money? Then do register for the Social track.

IIT Bombay Track:

For ideas of IIT Bombay who have the potential to be the next unicorn. The finalists of IITB track are given wildcard entry into the finalis of Business and Social track according to their idea.

 

Eureka! Business Track

1) Start-ups which have been incorporated for more than two years (i.e. registered on or before 24th August 2017) are not eligible to participate in the Business track of Eureka! 2019.
2) There is no restriction on any individual to participate. Anyone, from students to working professionals across the world, can participate.
3) Ventures that have acquired funding from external investor-networks (angels, VC's, etc) cannot participate. We believe in promoting startups that require assistance in the form of seed capital, mentoring and various types of consultancies.
4)Past year winners are not allowed to take part again this year.
Note: Teams may be asked to provide proof of the above at any time during the competition cycle and in the eventuality of wrong details/information your entry shall be disqualified.

 

Eureka! Social Track

1) Start-ups which have been incorporated for more than two years (i.e. registered on or before 24th August 2017) are not eligible to participate in the Social track of Eureka! 2019.
2) There is no restriction on any individual to participate. Anyone, from students to working professionals across the world, can participate.
3) Ventures that have acquired funding from external investor-networks (angels, VC's, etc.) cannot participate. We believe in promoting startups that require assistance in the form of seed capital, mentoring and various types of consultancies.
4) The plan should solve a critical social and/or environmental problem in an innovative and transformational way.
5) The mission and practices of the venture must focus on quantifiable social return.
6) The venture must be for-profit and financially viable; non-profit entries will not be accepted.
7)Past year winners are not allowed to take part again this year.

Teams can be asked to provide proof of the above at any time during the competition cycle and in the eventuality of any wrong detail/information, your entry can be disqualified.

Eureka! IIT Bombay Track

1) Each team must comprise a majority (50% or more) of IIT -B residents (students, faculty and anybody residing in the campus).
2)IIT-B residents must be actively involved in the venture.
3) Prize money will be given as cheque made in the name of team leader, who should be an IIT Bombay student/resident.
4) Ventures of IIT Bombay residents should satisfy the norms mentioned in the above policy.
Note: To know more about the institute policy of IIT-B on intellectual property, visit: https://www.ircc.iitb.ac.in/IRCC-Webpage/rnd/IITB_IP_Policy2012.jsp
5) All the finalist of IIT Bombay Track will get wild card entry in the Business and Social Track depending on their idea.
6)Past year winners are not allowed to take part again this year.
7) Start-ups which have been incorporated for more than two years (i.e. registered on or before 24th August 2017) are not eligible to participate in the IIT Bombay track of Eureka! 2019.
8) There is no restriction on any individual to participate. Anyone, from students to working professionals across the world, can participate.
9) Ventures that have acquired funding from external investor-networks (angels, VC's, etc) cannot participate. We believe in promoting startups that require assistance in the form of seed capital, mentoring and various types of consultancies.

Teams can be asked to provide proof of the above at any time during the competition cycle and in the eventuality of any wrong detail/information, your entry can be disqualified.

Choose Track

1) There is a common registration portal for all tracks.
2)Teams must select their track while submitting their ideas in Eureka!.
3)Teams must select their track after viewing the Eligibility Criteria for all the tracks.
4) Once a team selects its track, it cannot be changed.

Questionnaire Rules

1) Teams must answer each question in the questionnaire in order to be considered for evaluation.
2) The questionnaire of Eureka! is designed such that compiling the answers to the questions would create a basic but complete image of the idea. A participant is expected to answer all questions in the questionnaire in detail.
3) The answers to the questionnaire can be saved and edited repeatedly till the last day of submission i.e. 24th September 2019. The last saved answers would be frozen at 11:59 pm IST on 24th September 2019.
4) Entries submitted after the deadline will not be considered. The name given to the idea/entry cannot be changed for the second round. However, any change in name for the third and final round can be done by bringing it to our notice, stating the reference code for the entry.
5) All teams will receive a basic assignment two weeks before the registration deadline on their registered email ID.
6) All teams are expected to complete the basic assignment before 3rd October 2019.

Business Model Rules

1) Only teams that qualify for the business model round are eligible for making further submissions.
2) Participants will be allotted sector-specific mentors according to their requirements and mentoring will take place via email, video conferencing and telephone calls.
3) Participants are required to make a preliminary submission comprising of their executive summary before the offline mentors’ meet.
4) Post mentors’ meet, participants are required to submit their Business Model and MVP/POC. For your convenience, guidelines are provided which can be referred.
4) Participants are requested to submit a traction report along with the executive summary.
5) All submissions are to be made only in pdf file format. Please name your file: TeamName_Eureka!Preliminary_{RegCode}.pdf for Preliminary submission
TeamName_Eureka!BModel_{RegCode}.pdf for Business Model submission
TeamName_Eureka!MVPPOC_{RegCode}.pdf for MVP/POC submission
6) Further information about the pitching round will be conveyed to the finalist directly.


Frequently Asked Questions

I want to participate in Eureka! 2019. What are the steps I should follow ?
Step 1: Register for Eureka! 2019 on the portal.
Step 2:. You will have to provide the necessary details to complete your registration. Every member of the team has to individually register on the portal. However, the idea has to be registered only once. The leader after registering his idea can add other team members to it using their registered email ID.
Step 3: After confirming, you can proceed to the submissions page.
What is the registration/ participation fee for Eureka!?
There is NO registration/ participation fee.
What is the last date of submission?
The last date for submitting/ editing your Questionnaire is 24th September, 2019.
Can I sign up for both Eureka! Business and Eureka! social?
Yes, you can participate in both Eureka! Business and Eureka! Social with different ideas. Ideas for both competitions must cater to the respective categories. You cannot enter both categories with the same B-Model.
How do I decide the category for my B-Model?
Refer to the rules and eligibility criteria of Eureka! 2019.
Can I submit additional documents along with the summary?
No, we do not accept any other documents. The judging will be done only on the basis of the questionnaire.
Do I compulsorily need to have a team?
We allow single participation, though a team is highly recommended.
How will the business model be judged?
Business models will be evaluated based on the quality of the plan, the feasibility of the business idea and the size of the market opportunity amongst other judging parameters. Judging will be done by our panel of experts on the basis of a set of criteria covering different aspects of a business model.
When can I request a mentor?
A mentor will be allotted to all the teams that qualify for the second round i.e. the Business Model round. The mentoring session will begin in November and end in December.
I registered more than once for the same entry. What should I do?
Multiple registrations can be made by logging into your ID and simply creating another idea. Please note that for different ideas you have to submit different set of answers for the questionnaire and create a different set of team.
How is confidentiality of the questionnaire/ B-Model maintained?
The entries for Eureka! 2019 are judged by reputed faculty, established entrepreneurs and industrialists who believe in promoting entrepreneurship. They are themselves very busy people and looking at B-Models is a routine affair for them. Your entry is viewed only by the judges. At no stage is an organizer permitted to view your B-Model. Presentations are all closed room presentations. Only the team members and judges will be present during the presentation. However, we cannot get our judges to sign a non-disclosure agreement (NDA). To view our policy about confidentiality, refer to Terms and Conditions.
Where can I get a sample copy of business model?
You can get a sample copy of a business model under the resources section.
Can I change my team later?
Yes, you can change your team information and other registration details by logging into the edit profile page. You can even add a team member or drop one. You can also send requests to your friends regarding the same. However you cannot change the details of the team leader later. This facility will be available till 24th September, 2019.
What should be the size of my team?
Teams can be of any size, but a typical team consists of 3 to 7 members. However, having more than 7 members is not allowed. You may include faculty, industrialists, professionals, etc in your team. Each team is advised to figure out what expertise it needs to develop a successful business model and build a team to meet those needs.
Can a team consist of people from different colleges/ companies?
Yes, teams can consist of individuals from different colleges/ companies.
Does my business model have to be technology related?
No, we encourage all entries that can potentially be developed into a business model.
How does the mentoring program work?
Mentors are experienced sector-specific entrepreneurs or experts who provide assistance and guidance to the participants. Mentors will offer suggestions and feedback to help participants develop and refine their business model. Teams are strongly encouraged to take advantage of this opportunity. Teams can select a mentor from the sector of their choice or request the competition committee to assign a mentor to help them.
Can I take part in Eureka! if I have already taken part last year?
You can take part in the competition again provided you are not one of the winners of the competition. You can register with a different idea once again.
What is Round 1(Questionnaire) judging criteria?
Once the questionnaire has been filled and submitted by the participating teams, it will be sent to our sector-specific panels of experts for judging. Each entry will be judged by multiple judges and the final scores will be normalised by proven and genuine statistical methods. Questionnaires will be judged on the basis of a set of criteria and each criterion would be marked on a scale of 1-10 with 10 being the highest and 1 being the lowest.



Prize Distribution

1) One team cannot win more than one prize package out of the top 5 prize packages have cash awards.
2) Prize allocation will be done on the basis of merit lists of each prize package.
3) The total cash prize distribution for the prize winners will be done in 2 stages. Proper auditing at intermediate stages will be done to ensure that the prize money is appropriately used to take the venture forward.
4) All prize money will be given as cheques. No cash under whatsoever condition will be given.
5)All winning teams are required to make sure that there startup is registered in order to receive the prize money.
6) 50% of the cash prize will be issued 3 months after the declaration of results.
7) Within a period of 6 months after the date of declaration of results, the teams will be required to submit a detailed report of their progress to the Entrepreneurship Cell, IIT Bombay. The report would be evaluated by our panel of judges.
8) The startup is also supposed to submit legitimate bills of expenses made using the 50% of cash prize.
9) If the judges declare that adequate progress has been made and the startup submit the bills for their expenses in the given time, the remaining 50% of the prize will be released in December.
10) If a team fails to give the report within the stipulated time, it shall be deemed that the team has forfeited the remaining prize.

General

By registering for this competition, it shall be deemed that each individual of the participating team has agreed to be bound by the following terms and conditions:

Confidentiality
By electing to participate in Eureka!, each participating team and all of its team members agree to allow The Entrepreneurship Cell, IIT Bombay to use their names, images and information regarding the team's business, and prize information in publicity and marketing efforts throughout the world, unless specifically prohibited by law. Each participating team must agree to accept that their registration form and other entries will not be returned to them, and accept that their personal data will be available for information and statistical purposes.

Intellectual Property
The participating team represents that intellectual property in the business model does not infringe upon the intellectual property or any other legal or moral right of any person or entity.

Legal Issues
The participating team represents that they shall not violate any applicable law. The Terms & Conditions and the Competition Rules shall be governed by the laws of India. Any dispute or conflict arising out of, from or relating to anything contained in the Terms & Conditions and/ or the Competition Rules is subject to the jurisdiction of Mumbai courts only.

 

Others

The Entrepreneurship Cell, IIT Bombay reserves the right to disqualify or prohibit from participating in Eureka! any team that makes a submission, that in the sole discretion of The Entrepreneurship Cell, IIT Bombay, does not confirm with the Eligibility Criteria or does not comply with the Terms & Conditions and/ or the Competition Rules and/ or violates the spirit of Eureka! as a competition. In addition, the Entrepreneurship Cell, IIT Bombay may notify the appropriate legal/ administrative authorities as it deems fit and/or initiate any other action as may be advised. By entering the Competition, each team and its individual members agree to accept the decisions of The Entrepreneurship Cell, IIT Bombay as final including determination of the winners of Eureka!.
The Entrepreneurship Cell, IIT Bombay shall have the discretion to initiate appropriate action against participating teams including individuals of such participating teams in case of any losses or damages arising from violation of the Eligibility Criteria, Competition Rules and the Terms & Conditions.
If Entrepreneurship Cell, IIT Bombay or its sponsors or associates are faced with any claim or loss (including any third party claims) arising from or relating to any breach by any member of a participating team of the Terms and Conditions hereof, such participating team shall severally and jointly indemnify and keep harmless Entrepreneurship Cell, IIT Bombay or its sponsors or associates.

 

Presently in its 20th edition, Eureka! has acted as a launchpad for more than 40 successful start-ups, some of which have gone on to become multi-million dollar enterprises.
1) Leaf (Eureka! Social winners, 2014)
website: https://www.leafwearables.com/ Leaf is a wearable technology company founded in Feb 2016.Their SAFER Smart Pendant is a beautiful piece of jewellery with technology inside keeps women safe and connected. After winning Eureka! Social Track, they listed in Top 50 startups at Global Entrepreneurship Week and in Top 50 Innovative companies in India through IIGP. They also won The Ten Minutes Million at The Entrepreneurship Summit 2016 at IIT Bombay.They were chosen amongst the top 10 innovative startups in India by Department of Science and Technology who accompanied Prime Minister Narendra Modi on his visit to Silicon Valley to participate in first India-U.S. Startup Konnect (September 2016).
2) Zostel (Eureka! business winners, 2013)
website: http://zostel.com/ Zostel which is India's first backpacking youth hostel chain, started in August 2013 with an initial capital of Rs 20 lakh as a chain of backpacker hostels for young travellers providing airconditioned dormitories with laundry service, TV, internet and other facilities for under Rs 500 a night.In April 2016, it entered the budget hotel market and launched ZO rooms which raised an estimated $47 million across two round from Orios Venture Partners and Tiger Global. OYO acquired ZO rooms and zostel in 2016.
3) Greenway Grameen Infra (Eureka! Socials winner 2011)
website: http://grameeninfra.blogspot.in/p/home.html Greenway Grameen Infra develops innovative solutions for rural consumers based on a unique heat transfer technology.Greenway's flagship product is Smart Stove. It burns traditional biomass fuels like wood and cow dung, but reduces them by 65 per cent to produce the same heat as mud stoves, with 70 per cent less smoke and 1.5 tons less Greenhouse Gas (GHG) emissions every year. Within the first six months of the product launch, Greenway Grameen was averaging 5,000 unit sales per month, and today, after five years, Greenway Grameen has managed to sell over three lakh units in India.It's product is India's largest selling cook stove and has also entered into international markets such as Nepal, Bangladesh and Mexico.

4) TheraNova 

website: http://www.theranova.com/ Winners of Eureka! 2002, TheraNova is a biomedical device company. In addition to receiving seed funding for several internal projects, it has spun out several venture-backed companies. Baranova, NovaShunt, Velomedix and EM Kinetics have managed to raise Series B funding of $7.5 million, $25 million, $10.2 million and $2.8 million, respectively. A few other products have been filed for patents. For more information about funding visit the links below.
5) Elnfinitus
website: http://www.einfinitus.com/overview.html Winners of Eureka! 2001, eInfinitus Technologies is a research oriented routing technology venture, founded by the alumnus of the Department of Computer Science and Engineering of IIT Bombay, India. It received INR 15 million in their first round of funding from Sicom Ventures and was later bought by Cisco Systems in a deal reported to be in the range of a whopping INR 2,50,00,00,000 or $50 million. For more information go to http://www.einfinitus.com/News/news8.html
6) Whizlabs
website: http://www.whizlabs.com/ Winners of Eureka! 2003, today Whizlabs is a global leader in Java Certification Exam preparation. It has served over 50,000 customers and 20,00,000 users in over 120 countries with a 99.7% success rate and has also served corporate customers like Accenture, JP Morgan, IBM, Cisco, Infosys, Bunge, Induslogic, Nucleus software, Coface.
7) Greensole
website: : http://www.greensole.in/ Greensole is a social venture, refurbishing discarded shoes to comfortable footwear, which are provided to the people in need and also sold in the market. Globally more than 350 million pairs of shoes end up in landfills each year while as per the UNESCO & WHO report 1.5 Billion people currently do not have footwear.Greensole tends to bridge this gap making social, economic and environmental impact

10,000+

Entries(Last year)

150+

Mentors

50

Lacs of Prize Money

20

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Incentives


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